The Ministry of Foreign Trade assured this Thursday that Costa Rica will maintain its development strategy for the semiconductor industry, despite US President Donald Trump’s announcement of a 100% tariff on these imported products.
The measure, announced on Wednesday, is part of a policy to encourage local manufacturing of strategic components. Trump did not specify when the new tariffs would take effect, but clarified that companies producing in the United States will be exempt from the surcharge.”We will apply a tariff of approximately 100% to chips and semiconductors,” he stated.
Costa Rican government awaits official document
In a response, the Ministry of Foreign Trade indicated that it is still awaiting the executive order to analyze its scope.“It is important to highlight that, regardless of the decisions adopted by the United States government regarding tariffs, Costa Rica continues to promote a strategic and long-term public policy aimed at strengthening and expanding the semiconductor ecosystem,” it reported.
Costa Rica had been committed to becoming a key partner of the United States in this industry, following the passage of the Chips Act during the Biden administration, which allocated $39 billion in subsidies. However, President Trump has asked Congress to eliminate this legislation, which directly affects companies like Intel, as acknowledged by President Rodrigo Chaves.
Intel and Qorvo Move Operations
Trump’s announcement coincides with the decision by US firms Intel and Qorvo to move their manufacturing operations from Costa Rica to Asia. Intel had already closed its local plant in 2014 and is now repeating the move. Qorvo announced its departure a day later.Both companies will retain research and corporate services functions in Costa Rica.
The economic impact was immediate. The Central Bank reduced its growth projection for 2026 from 3.9% to 3.5%, attributing the decline to the exit of these two companies from the semiconductor sector.
The 0.4 percentage point difference demonstrates the weight this industry still has in exports. This, despite the boom in other sectors such as medical devices, the bank noted.
Structural reform and diversification
Given this situation, the government insisted on reforms to strengthen “the country’s resilience to sudden changes in global conditions.”The Ministry emphasized the urgency of passing the 4-3 workday law, modernizing the National Learning Institute (INA), and reducing electricity costs.
Furthermore, the government indicated that it is working on diversifying markets and sources of investment. Costa Rica recently signed trade agreements with Ecuador and the United Arab Emirates, and is seeking to conclude treaties with Israel and the Trans-Pacific Partnership.
According to the Ministry and the Foreign Trade Promotion Agency (Procomer), these instruments expand the country’s commercial platform and strengthen its position as an attractive destination for foreign investment, even in a more uncertain global environment.
